The thing is we want less stupid speculation and asset bubbles
and yet the economy is running far below potential, with the "tight labor markets" right now just a glimpse of how it was before (and probably a fleeting one if the inflation class warriers have their way like in the 1970s).
To fix both problems --- because we need to stop just making ourselves poorer and less coordinated with prudish neoliberalism --- we should probably try to get experimental with monetary policy. Having the Fed tweak a UBI instead might help.
Remember, the way that capitalism is supposed to work is that demand validates investment. Easy credit from banks to big institutions with poor consumers is stupid because too many investments still look bad! Hand out cash, and then businesses can chase the people's demand, rather than trying to create the demand all weird post-modernly.
No more throwing easy money at startups waiting for them to finally be profittable 10 years later. Yes more making the poorest better off and letting the resulting supply-chain bottlenecks show where investment is actually needed. If there's no current bottleneck, you aren't trying hard enough!
To fix both problems --- because we need to stop just making ourselves poorer and less coordinated with prudish neoliberalism --- we should probably try to get experimental with monetary policy. Having the Fed tweak a UBI instead might help.
Remember, the way that capitalism is supposed to work is that demand validates investment. Easy credit from banks to big institutions with poor consumers is stupid because too many investments still look bad! Hand out cash, and then businesses can chase the people's demand, rather than trying to create the demand all weird post-modernly.
No more throwing easy money at startups waiting for them to finally be profittable 10 years later. Yes more making the poorest better off and letting the resulting supply-chain bottlenecks show where investment is actually needed. If there's no current bottleneck, you aren't trying hard enough!